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Dec 7, 2012 2:00am EST
and we had some growth in the economy, i don't think they would object to going back to the tax rates. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racing taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slow d
Dec 6, 2012 3:00pm EST
to get better. the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a long-term investor. long-term stocks have outperformed bonds. >> with all do respect, george, are you one of those come play september investors larry is referring to? >> i'd say we're opposite of that. we never take anything for granted, but we bet accordingac. bonds are trouble. a lot of people are going to lose a lot of money in bonds. you have to be prepared for that. interest rates are going to go up. dividends are going to continue to increase. the economy in this country is strong. it's going to get stronger. >> even at 44% dividend tax? >> it's not going to go that high. >> if we go over the fiscal cliff, it
Dec 6, 2012 8:00pm PST
again and we had some growth in the economy, i don't think they would object to going back to the tax rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better. >> right. i heard your lead-in on it, and you said this is a new idea floated by howard dean. ints a new idea. several democrats have floated that a while. the code word is going back to the clinton tax rates and talk about the clinton economy and we should go back to the clinton tax rates. what that means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. so it's not new, and no, i don't support that. i don't think that's a great idea at all. it will slow
Dec 7, 2012 6:00am PST
stimulating the economy even after the labor market gets better. we know this isn't likely going to steer the central bank in one direction or another. you flip the coin over, though, you have this people who say this report is very important. it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick around. we'll get back to you as well. >>> from wall street now to washington where the white house is keep iing a close eye on today's numbers. brianna keilar joins us now live. good morning, brianna. >> reporter: good morning to you, don. we're still awaiting reaction from the white house and also from congssional republicans. they've long said at the white house, tak
Dec 2, 2012 1:00pm PST
. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over the clif. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then that's the choice we have to make. >> emily joins us live from washington and so ellie, did anyone on any of the talk shows offer something resembling a bipartisan deal, or was effort just negativity? >> when the weekend began, an official who's very familiar with this -- as we saw on the talk shows today, there's no word that anything has been added to anyone's calendars in the past couple of days. so is there hope a deal can be reached? certainly that hope is still alive. but is there a timeline in place as to when it will happen, that's not known. >> emily schmidt, for us live in washington. thanks so much. >>> a series o
FOX News
Dec 6, 2012 12:00pm PST
. the head of state television. it is possible that made a difference. also throw into the mix the economy there. the economy in egypt is suffering terribly. today alone the stock market is down another 4.6%. the egyptian currency is at an eight-year low. those factors may be contributing to why at least now the egyptian president has decided to speak out. we will have to wait and see if there is any compromise in the works. >> we shall see. david lee miller live in our newsroom. i can tell you what happened so far in this speech. the egyptian president said among other things that the will of the people cannot be expressed boo i angry crowds in the street. but in fact the polls indicate and the word from the people is that's exactly what is happening. the egyptian president mohamed morsi from the muslim brotherhood is speaking live on egyptian television. should anything of significance come out of it we will bring it to you. >>> the software tycoon wanted in the murder of a neighbor has asked for asylum, but instead he is in jail. it has not stopped him from blogging about his adventures
Dec 3, 2012 5:00pm PST
effects on the economy. the other area that democrats want to raise taxes are on investment income, things like capital gains, dividend income. now, those will jump significantly. here's the thing. very few of these benefits affect middle class workers. it does affect the higher income earners and the question you have to ask is will it affect their spending patterns and the thinking amongst democrats and among many liberal economists is that you don't spend the marginal money that you earn in the same way you spend the core money that you earn, so the impact won't be as big. it's not to say that there's no impact and it would be better for the economy if we were not raising taxes on anybody and possibly lowering taxes, but there's a doomsday scenario that's been put out there about what would happen if you raise taxes on the top 2%. we don't have a lot of studies to back that up. >> you say not a lot of studies to back that up because that is the principle republican argument. they say the recovery is so weak, if you raise taxes on the top 2% right now you will hurt the job creators at a
Dec 7, 2012 11:00am PST
's rate of unemployment stands at a four-year low. it is now 7.7% with the economy adding nearly 150,000 new jobs last month. the numbers issued by the labor department. a loss of manufacturing jobs did serve to dampen the outlook going forward. the manufacturing sector shed 7,000 jobs last month. the positive side, again, hurricane sandy appears not to have been the job killer many had feared. the labor department says the havoc wrought by sandy had no substantial impact on the unemployment picture. with us now, jill schlessinger, editor at la w manyre the jobs aart me ,ow m t are seasonal jobs? >> not so many seasonal. we saw some broad based gains and we continue to see some really robust gains in retail, in business services, health care is really continuing to show great improvement. you mentioned manufacturing. mentioned one other area, 20,000 jobs lost in construction. that may be a little bit of sandy related. >> but also, one of the interesting things, you looked at the numbers and said there was 300,000 people that said weather did affect the job surge. why is that not con
Dec 4, 2012 1:00pm PST
. >> the concern people have is the world economy is in a very fragile state right now. i don't have to say what the problems of the eurozone have, they're very manifest. but the global economy as a whole, there's a lack of confidence, a worry about where it's going. so if you in america, and people have a lot of confidence in america in this regard, if you can sort out this issue, then even though that doesn't sort out all the problems of the american or global economy, it would be a big boost and give people a sense of confidence that there was -- you guys have got your act together. the decisions were being taken, and i think it will be good for you and good for us. so i hope you do it. i believe you will. i know right now there's bound to be tough negotiations. the president has been re-elected and i think that gives the situation its own special momentum. i hope you resolve it and then we're going to have to take some tough decisions over our way, too. >> very quickly. there was a cute video of hillary clinton here in washington over the weekend, and it had a clip from you in there. i'll pl
Dec 6, 2012 9:00am PST
the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local walgreens. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. home of the legendary grand prix circuit. the perfect place to bring the all-new cadillac ats to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3 series. i cannot believe i have ended the day not scraping some red paint off on these barriers. ♪ [ male announcer ] the all-new cadillac ats. >>> american
Dec 5, 2012 11:00pm PST
's economy. >> senator tom coburn today as you know, very vocal on this issue. he's put years into it. reached out across the aisle. he said he would rather raise tax rates than eliminate loopholes and cap deductions, which is the opposite of what it sounds like you're saying or speaker boehner is saying. what do you think of his idea in would you take a look at it? >> i think coburn's basically coming from a standpoint as these taxes are programmed to go into effect. again, i can't make a prediction on where we're going to end up because i don't know. >> but do you think we're going to get a deal by the end of the year? and the whole world is watching this. some of them laughing at us, but also cause a real problem in our financial markets. >> if we allow those taxes to go up or if we allow the president's plan for them to go up on the people that we're betting upon to make a new jobs in this dismal economy, the world's going to be -- and nobody in america's going to be laughing. a whole world of hurt going around. >> the bottom line is you don't like the option, but you're willing t
Dec 8, 2012 2:00pm PST
in things like education and research that are important to growing our economy, and if we're serious about protecting middle class families then we're also going to have to ask the wealthiest americans to pay higher tax rates. that is one principle i wouldn't compromise on. >> speaker john boehner has a different view. he says the president needs to abandon what he called his "my way or the highway approach," in his words. if the president does that a lot of things are possible. >>> syrian rebels are battling army units around the capital. activists say 26 people were killed in the damascus suburbs today, while 29 more were killed around the country. meanwhile, the u.s. and other officials warning against chemical weapons. syria says it would never use the chemical weapons against its own people but warns that terrorists could use it against the people. >>> and linebacker jerry brown, a dallas cowboy, a member of the team's practice squad was pronounced dead at the hospital. he was riding in a car driven by josh brent, the starting nose tackle. brent has been arrested on suspicion of intox
Dec 3, 2012 11:00am PST
know, kick into place that can plunge the economy back into recession. and you have the house speaker saying this white house proposal, the one he received just a matter of days ago, isn't even serious. gloria borger, our chief political analyst, let me bring you in here. one of the questions is does it seem to you that the president feels as though he has some leverage here? he won the election, right? >> he did. >> maybe that accounts for what's in his proposal. >> yeah. this is clearly a different president obama than the one we saw during the debt ceiling negotiations or even after the midterm elections in 2010 when he felt a little weakened and there was the extension of those bush tax cuts for the wealthy. so i think when you're seeing here is a president who put this on the table, trying to please his base, okay? which got him elected after all. saying, this is my wish list, this is in a perfect world, this is what i would do. i don't think anyone at the white house expected the republicans to say, oh, thank you mr. president, yes, this looks lovely. let's go on and work on a d
Dec 7, 2012 5:00am PST
that is breaking that trend. suggests a modestly improving economy there. right now though most of the major european markets are trading down. checking in on our numbers the futures do indicate a lower opening here as well. a lot is going to depend on the next ten minutes. 11 minutes from now when the employment report comes out. see what happens there. small gains as you can see yesterday across the board for the dow, nasdaq, and s & p. >>> remember that card we talked to you about the gift card star buck stainless steel gift card goes on sale today. and also as the copy chain plans to open 1500 new locations. so people like starbucks. >>> time now 5:20. new problems this morning for katt williams. there is a new arrest warrant. we'll also tell you what his managers are saying about claims he has retired. >>> plus a new push to change airline policies. how it's connected to the growing popularity of e readers and tablets. >>> you can wake up with ktvu every morning get the mornings top stories that developed while you were sleeping sent straight to your cell phone every weekday morning 6:0
Dec 5, 2012 6:00am PST
the problem. >> as we continue to try to solve the fiscal economy, today we will have small family-owned businesses in there, talking about ways that we can -- >> we're going to pull away from this. i have a question of you, dana bash. dana, are you there? she can't hear me. well, i wanted to ask her about these $800 billion in tax revenue. i want to make it clear to all of you that does not mean an increase in taxes on the wealthiest americans. that means closing loopholes and cutting other things to raise that $800 billion in tax revenue that the republicans are talking about. we're going to hear much more about this on the other side of the break and we'll be right back. >>> just moments ago, john boehner spoke to reporters and said he made an offer. part of the negotiations to avoid that fiscal cliff, he made that offer to president obama that includes $800 billion in tax revenue. he wants to overhaul the entire tax code, close loopholes, things like that. he's waiting for a response from the president. listen to what he said. >> you know, this week we made a got faith offer to
Dec 3, 2012 4:00am PST
, the economy, if, in fact, we do go over the fiscal cliff, taxes will go up, major spending cuts will kick in. this weekend republican south carolina congressman seth graham said he thinks that we're going to go off the fiscal cliff in fact and he said this, i think we're going to go over the cliff, it seems to me that they made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare, medicaid and social security from imminent bankruptcy. senator richard blumenthal is a democrat from the state of connecticut. he joins us this morning. >> good to see you. >> you heard lindsey graham saying he thinks we're going off the cliff. you think that's true? >> i respectfully disagree. i'm really encouraged that we can avoid this fiscal cliff for a number of reasons. first of all, there is a growing group of republicans who say we really need to raise revenue, not just talk about raising revenue, but actually increase taxes on the wealthiest 2%. and they're willing to consider those kinds of taxes that the president proposed so that middle-class americ
Dec 7, 2012 2:00am PST
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Dec 8, 2012 5:00am PST
debt over the years and accumulate debt faster than the economy can grow. that's not sustainable. the grand bargain is that we have to do something about this, and the things we have to do are slow the growth of spending, especially the health care programs like medicare and medicaid for older people, and we need more revenue. we have to reform our tax system so we collect more revenue. it's not possible to do all of that between now and the end of the year when this fiscal cliff thing hits, but the government could put in place a framework. that's what they are arguing about now, what is the framework for the grand bargain that we will fill in the details in the next congress? >> one of the biggest fundamental reforms though that you say needs to happen is with those entitlement programs, so what exactly needs to change right now, and what would you say needs to stay? >> well, nobody is for abolishing medicare, for example. everybody is in favor of medicare. it's a very important program for seniors. it's paid the cost of health care for seniors over many years. we're going to h
Dec 5, 2012 7:00am PST
of los angeles and long beach, california. the strike was costing the economy an estimated $1 billion per day because it prevented shippers from delivering cargo to stores and other businesses. 40% of all goods shipped into the country come through those ports. union workers there were protesting the outsourcing of jobs. there's no word, yet, on the terms of the deal struck. >>> and speaking of the economy, there's important news for anyone who owns a home or is looking to buy. prices, skyrocketing to levels we have not seen in years. and "weekend gma" anchor bianna golodryga is here with the latest. good morning, bianna. >> reporter: good morning to you, josh. important news and good news. everyone's been waiting for the housing market to take off since the collapse in 2008. now, we're learning that home prices jumped 6.3% in october, compared to the same time last year. that's the biggest year-to-year gain since 2006. now, prices rose in 45 states, led by a 21% jump in arizona and a 13% rise in hawaii. and according to the national association of realtors, they say the number of homes a
Dec 4, 2012 8:00pm PST
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Dec 4, 2012 11:00pm PST
of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multiply. polident is designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. that's why i recommend using polident. [ male announcer ] polident. cleaner, fresher, brighter every day. >>> our second story "outfront," a stern warning to syria. the use of chemical weapons is unacceptable. nato says the use of these weapons of mass destruction will be met with an immediate reaction from the international community. former british prime minister and middle east envoy tony blair had the same m
Dec 6, 2012 5:00am PST
: the economy likely created just 80,000 new jobs last month down dramatically from the 171,000 in october. the unemployment rate could inch up to about 8%. we were at 7.9% last month. this falloff in job creation is likely due to a combination of the effects of superstorm sandy but also worries over the "fiscal cliff." >> jill, when can we expect to see the sandy-related impact diminish? >> reporter: to gauge the effect i went back to the data after hurricane katrina. katrina was a larger storm but sandy struck an area with a larger population so i think the impact on employment might look pretty similar. it took two months after katrina to return to the previous trend job growth. that means that hopefully by january, things should settle down in the data and we'll have to endure a couple of rotten months on the way. >> there we go. and we have this thing that "fiscal cliff," that so-called "fiscal cliff" "fiscal cliff" that we're sick of. how is that going to impact the whole job situation? >> reporter: you know, for a while it looks like it wasn't going to but in recent surveys we see t
Dec 7, 2012 6:00am PST
will approve the the economy. >>> the national football league says it would help the oakland raiders build a new stadium. roger goodell says it's crucial the raiders improve their stadium situation and the national football league would help pay for a new one. the raiders and city of oakland have held talks about a new stadium but there is nothing certain yet. commissioner goodell said the raiders could share the 49ers new stadium but that deal would have to be worked out between those two teams. >>> bart is trying to do something for military veterans giving them some help in getting a job. the board of directors approved a new hiring policy yesterday. it gives military veterans a 5% chance over other possible perspective workers. the veterans have to have six months of active status and honorable discharge. they also have to pass an exam. the new policy begins at the beginning of the new year. >>> stretch of highway 1 that was closed down because of the recent wet weather could be back open today. it's between genre and timber road. now the recent rain especially wednesday's storm caused
Dec 6, 2012 2:35am EST
will harm our economy. >> treasury secretary tim geithner also weighed in yesterday saying the president is willing to allow the nation to go over the cliff if republicans don't agree to raise taxes on the wealthy. >>> we are learning new details about colorado's shooting suspect james holmes now that thousand of e-mails in the case have been reap leased. messages indicate holmes may have had a brief romantic relationship in the days before the tragedy. we have learned that in early june, holmes began specifically talking and fantasizing about killing a lot of people. his psychiatrist was so worried that she broke confidentiality and then contacted campus police. >>> here in new york, a suspect has been charged with murder for shoving a man to his death on the subway tracks. police say, 30-year-old, naim davis admitted to pushing the victim after the two argued on the platform. the judge denied davis bail. he admitted to police he stayed on the platform watching the man get struck by the subway. >>> the long search for two missing iowa cousins apparently ended in heartbreak. the body of
Dec 5, 2012 11:00am PST
to the economy. what are you hearing from wall street? sounds like some folks aren't so nervous. >> there is a variety of opinions, diversity of opinions. i said show me two economists and i'll show you six different opinions. the opinions are out of my control. what is in my control is this. can we get certainty? and, again, we all agree on at least the first $250,000, me, myself, i think it ought to be higher because it should be linked to the cost of living and not some figure. i think it should be higher. but let's just get agreement and pass the bill where we know everybody does agree. and that's on at least the first $250,000. that gives the market certainty and just as important it gives the middle class certainty. right now, this weekend, people are going to go out and buy holiday presents for their family, their friends, loved ones, they need to know whether their taxes are going to go up by $2,000 because we can't get an agreement. let's at least get that done and then we can move on to the more contentious issues. >> okay. congressman steve israel, appreciate it. than
Dec 7, 2012 9:00am PST
of the e.u. strategy. >> it's crucial for our economy. it's part of the -- we want to do it for growth and jobs. to work in transport sector -- and it's very, very important for europe, also for our investment. >> the e.u. hopes that the space sector will account for 20% of its gdp by the year 2020. the u.k. space agency has been $2 billion for the european space agency programs. the space agency already contributes 9.1 billion or $14 billion to the u.k. economy. for europe investing in space is investing in the future. >>> medical marijuana is already legal in several states in the united states. now, voters in washington state and colorado have ok'd the recreational use richard branson says yes. >> simply proposed with the harder drugs is do what portugal has done and that is, you know, let the state set up clinics throughout america that if you have a drug problem, you go to that clinic. give them the methodone until they're ready to come off, and when they're ready, you use a drug clinic that costs one-third of the price of a prison medical record to get them back into society. >>
Dec 3, 2012 6:00am PST
raise those taxes on businesses and investors it's going to hurt the economy and this isn't the best time to do any injury to businesses and investors when we don't have enough jobs in this country. but you may be right that the president will insist on those tax rates going up and republicans have said, look, instead of raising the tax rates why don't we close loopholes in the tax system, make the tax system more efficient and stop picking winners and losers. i think that's the latest offer the republicans have put on the table. they're not opposed to a tax increase. they're basically saying let's do it the right way in a way that doesn't hurt the economy. >> yeah, but stephen, you could close every loophole that's out there and that wouldn't make up for our deficit. >> no, but the president's plan of raising taxes on the rich, let's assume even he has his way. let's assume republicans go along with his plan. that at best raises about $70 billion a year. that leaves us with a trillion dollar deficit. this puts the president i think in a little bit of a hole. if the republicans give
Dec 5, 2012 5:30pm PST
-class families in a struggling economy. >> we don't go out to eat much. we don't spend-- we don't go to the movies much. >> we do a lot of thrift store shopping for my kids for clothes. >> reporter: shawn was unemployed for a year in washington state then two years ago he got a job as an accountant with the federal government so the family of six-- their savings depleted-- moved across the country to woodbridge, virginia. his salary of a little more than $70,000 is less than what he used to make. >> before we lost our job they were in-- two were in piano and we haven't been able to do things like that. >> reporter: what's the hardest part of this? >> for me it's my kids, knowing that i want more for them. my oldest, who's the one that's most aware of what we've been going through the last couple years she asked me recently, this summer, she's like "mommy, when are we going to stop feeling like we're poor." i was like, "honey, it's not that we're poor, we just can't do a lot of things that other people do." >> reporter: sean and jody say it's soon going to become even tougher because
Dec 6, 2012 4:00am EST
for the economy. that's what the american people voted for. that's how we're going to get it done. >> mr. obama's treasury secretary, tim geithner, went a step further, saying that the president would allow the nation to go over the fiscal cliff at the end of the year, if republicans don't agree to raise taxes on the wealthy. >>> and maybe abraham lincoln can help the fiscal cliff negotiations. harry reid believes so. the senate will get inspiration when reid hosts a clescreening the spielberg movie. >> whatever helps to get things moving, right? >>> hundreds of same-sex couples in washington state lined up overnight to get a marriage license now that they can legally wed. the county clerk's office in seattle opened at midnight to accommodate couples eager to make history. there's another historic first in washington overnight. it is now legal to buy and possess pot. the law, though, bans public use of marijuana, like drinking in public. and it's against the wall to sell pot. the state is trying to work out a system to license growers. >>> and with that, we'll take a look -- >> you can't buy it
Dec 6, 2012 6:00am PST
, carol, the economy grows. that ends up translating to investors as being more confident. confident enough to buy into the market. since most 401(k)s closely track the s&p 500, this 10% to 15% rise cohen is expecting would be great for your retirement savings. if you start the year with, say, $30,000 and the index gains 15%, you're looking at almost $5,000 in gains. so it probably won't surprise you that the fiscal cliff, though, is a concern. but, you know what, cohen says even if the market is shaky at the start of 2013, the gains the second half of the year will make up for it. carol? >> that's a pretty rosie outlook. there must be a counter argument. all the other -- i hear such dire things. >> of course. you know, there are other big financials that release their outlooks, too, carol. most are generally positive, though. there are some pessimists out there. wells fargo strategists expects stocks to decline next year and points to slowing growth and uncertainty about the economy. expects just a modest gain next year and that strategist says because of conversations about key str
Dec 6, 2012 11:00am PST
know, something to the american economy. the way you look at things is, you know, the company is going to be spending $100 million in terms of bringing back jobs to the u.s. some may say $100 million, you know, is not a lot of money considering that apple has more than $100 billion in the bank. but i think this is a positive sign in terms of how many workers we're talking about here -- >> how many jobs? >> reporter: we don't know precisely or the skills necessary. it's a great question. probably in the thousands of jobs. remember, this is one existing mac line. this is not the iphone or ipad. one line but probably in the thousands, brooke. >> in the thousands. and so, apple chock eed up the one-day stock drop. do you think the shift, has to be a profitable move for apple hopefully. >> reporter: well, you know, there are two ways of looking at it. you are using cheap labor in china. not going to have that in the united states and also you're talking about adding infrastructure costs. how that might impact the bottom line, you know, remains to be seen and tim cook made it clear this is n
Dec 3, 2012 1:00pm PST
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